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Allergan, Molecular Partners to collaborate on DARPin products
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Allergan and Molecular Partners will work together to discover, develop and market a proprietary product that inhibits VEGF-A and PDGF-B for the treatment of exudative age-related macular degeneration and related conditions, according to a press release.
In a separate agreement, the companies will also collaborate in designing and developing additional designed ankyrin repeat protein (DARPin) products against selected targets implicated in causing serious ophthalmic diseases, the release said.
Under the agreements, Molecular Partners will receive upfront payments of $62.5 million and may receive up to $1.4 billion based on successful development, regulatory and sales milestones, the release said.
The first agreement calls for both companies to develop the dual anti-VEGF-A/PDGF-B product through human proof of concept before granting Molecular Partners the option to co-fund Allergan's development costs in exchange for increased royalty payments.
The second agreement allows Allergan to exercise three options to exclusively license collaboratively developed compounds, with Allergan paying an option exercise fee to Molecular Partners and assuming sole responsibility for future development, manufacturing and commercialization activities, the release said.